The QBCC has excelled over the past financial year. They have a list of over 120 builders they have had a major crackdown on.
It's worth mentioning that virtually none of these builders are a threat to anyone as the "The targeted builders are classified by the QBCC as level one and two licensees. This means they have an allowable turnover of $200,000 for level 1 & $800,001 or less for level 2".
Of course they would target the small fish who pose no threat to subcontractors, suppliers or the public because it provides an invaluable diversion from the internal upheaval in the QBCC where senior staff are leaving, it's clear the organisation cannot retain staff.
If they want to be taken seriously, QBCC should give some thought to a crackdown on the big builders ripping off millions from subcontractors and suppliers and leaving home owners out of pocket when they liquidate.
The 120 builders under investigation and restricted would not have the capacity to hurt a fly financially, they would rarely use subbies and would invariably pay up front for supplies so why the bottom of the barrel witch hunt?
The QBCC has presided over such a rank and prolonged period of abject failure which has cost subbies and suppliers over half a billion dollars with the cost to the industry incalculable.
Take a look at the incomplete hall of shame and tell me that the QBCC and the Qld Government have done a good job, even an average job.
- Garry Dean Constructions
- AL Builders
- Walker Civil Constructions
- River City Homes
- Cullen Group Australia
- Batir Constructions
- CMS Ashtay
- Bluestone Constructions
- D Del (Development Delivery)
- CKP Constructions
- Bloomer Constructions
- CMF Constructions
- Ignite Homes
- Queensland One Homes (Q1)
- RJ Builders
- DJ Builders & Sons
- Ware Builders
- Ostwald Bros
- Rimfire Constructions
- CRCG Rimfire
- My Home Builders
- Dig It Landscapes
- Metro Builders
- Stirling Homes
- Irwin Homes
- JMK Builders
- Sommer and Staff
- RCR Tomlinson
And another 17 below that need sorting into financial years.
Most of them have debt washed in the last 2 years.
- Maguire Building Services
- Future Urban Residential
- Hinterland Constructions t/a Unique Country Homes
- Wunda Projects
- Capital Form Constructions
- Infocus Homes
- Chris Taylor Constructions
- Construction Engineering Qld
- Powell Constructions
- Finlay Constructions
- Build Constructions Group
- AB Hill Constructions
- Auzmet P/L
- Mish Developments
- Sidhu Developments
- Homes R Us Queensland P/L
- Astute Projects
Then there are also a stack since 2020 that I need to collate such as Bulkbuild, Total Lifestyle Builders and the most recent, Lifetime Builders.
As I said before, apologies to any liquidated builders out there that I have missed. Please feel free to email me your company name to add to the hall of shame.
In 2016 the QBCC approved CRCG Rimfire an eye watering licence capacity of in excess of 18 billion on QBCC letterhead, duly signed and rubber stamped;
"Based on the information provided, including your notified Net Tangible Assets, your new Maximum Revenue is $18,260,184,139.00. The Maximum Revenue is the revenue amount permitted for your financial year".
A mega licence capacity, a licence capacity that was allowed based on a signed "deed of covenant" with a surety value of 1 billion dollars. Unfortunately for the creditors who did their money cold, the QBCC blindly believed or took CRCG at their word and neglected to ensure the 1 billion was here in an Australian bank instead of being tucked away and untouchable in a Chinese bank in China (if it ever really existed). What an amateurish effort. Who at the QBCC lost their job for gross incompetence over the CRCG Rimfire Deed of Covenant?
CRCG Rimfire lasted a little over a year yet here the QBCC are, cracking down on builders with a maximum turnover capacity of 800k. A long way short of the 18 billion they gave CRCG Rimfire. My math is not the best, there are too many noughts in 18 billion but I think you could fit over 22.5 million small cat 2 builders into CRCG's licence capacity.
The Chinese pulled the wool over the QBCC's eyes and gave their arse a smack for good measure.
The liquidators of Australia and their lawyers are the real beneficiary's of liquidations.
Cullen is an example of the benefit a liquidator and his lawyers can have picking over the bones of a dead building company.
Cullen was liquidated on 22 December 2016 just in time for a tragic Christmas gift for 600 creditors, we were one of them. Almost 5 years on, there is over 2 million of income receipts and not a cent back to unsecured creditors. On the contrary, unsecured creditors suffered a double hit adding insult to injury with successful, so called unfair preference claims.
There has been NO public examination of the director despite a substantial amount of money provided for that by the QBCC and not a word from the liquidator to his COI in 2021.
Liquidators are lying in wait for the big crunch that will come soon as Government stimulus dries up and a lack of qualified manpower and materials such as timber, provides shonky builders with the excuse to liquidate.
No doubt there are genuine hardship cases among builders and there are many honest builders but there has always been pre insolvency advisors who can show a shifty builder how best to take advantage of Subbies money.
Have a look and a laugh at the highly publicised minnow builders the QBCC are targeting.
These builders would not be building your house, they would be laying your concrete path, erecting your timber fence or doing your garden edging.
If it wasn't so pathetic, it would be laughable.
Well done to the QBCC for targeting kindergarten builders.